By Bob Stark, Agricultural Economist and Jeremy Ross, Assistant Professor/Extension Agronomist – Soybean
The Arkansas 2019 Crop Soybean Cash Market has fallen 50 cents since the last weekend break in March. Weekly declines have decreased in magnitude from 15 cents over March 30-April 3 to the most recent 8 cent decline of April 20-24. The past week actually saw three straight days of price improvement after last weekend’s drop before the market declined again on Friday (Figure 1). The market lost 6 cents over the weekend and opened Monday at $8.24, 25 cents under the Monday average of the previous week. Price climbed to a daily peak of $8.37 on Thursday before losing 7 cents on Friday and closing at a statewide average of $8.30, unchanged from the previous week’s closing average. High daily individual market quote of the past week was $8.67 on Thursday at Osceola. Low quote of the week was $7.92 at Wynne on Monday. End-of-the-week quotes saw prices ranging from a $7.97 low at Wynne to a high of $8.61 at Osceola. The ending quotes range was 64 cents, 3 cents wider than the previous week. The market received price quotes from eleven locations each trading day of the past week.
The Arkansas 2020 Crop Soybean Booking Market moved similar to the old crop market over the past weekend with a 5 cent decline, but never saw the multi-day upward trend that old crop beans enjoyed. The market opened on Monday at a statewide average of $8.38, 23 cents under the previous week opening day. Price then stayed within a 2 cent range until Friday when it fell 6 cents to end the week (Figure 2). The market closed at a statewide average of $8.34 on Friday, a net loss of 9 cents from the previous week closing mark. High daily individual market quote of the past week was $8.63 on Thursday at Osceola. Low quote of the week was $7.92 on Friday at Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $7.92 at Wynne to an $8.60 high at Osceola. The ending price quotes represented a range of 68 cents, 3 cents wider than the previous week closing range. The market received price quotes from twelve locations across the state for all reporting days of the past week.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by USDA-AMS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)